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Tags: twitter | elon musk | board approval 44 billion deal

Twitter Board Approves Elon Musk's $44 Billion Deal

Twitter Board Approves Elon Musk's $44 Billion Deal
Elon Musk (Getty Images)

By    |   Tuesday, 21 June 2022 09:22 AM EDT

Elon Musk's purchase of Twitter has been unanimously approved by the Twitter board, a regulatory filing Tuesday shows. Shareholders still must vote on the proposed $44 billion deal.

In a virtual call with Twitter employees Friday, Musk reiterated his desire to acquire the social media platform, despite Twitter stock having considerably fallen below his offering price of $54.20 per share.

In a Bloomberg interview published early Tuesday morning, Musk said there were a few "unresolved matters" left on the table before he could seal his Twitter deal. "There is the question of, will the debt portion of the round come together, and then, will the shareholders vote in favor," Musk said in an interview Tuesday with Bloomberg at the Qatar Economic Forum.

During his negotation, Musk took issue with the real number of Twitter users, excluding "bots," or spam.

The Securities and Exchange Commission filing showed the Twitter board said it "unanimously recommends that you vote (for) the adoption of the merger agreement."

If the deal were to close now, Twitter investors would net $15.22 for each share owned.


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StreetTalk
Elon Musk's purhase of Twitter for $44 billion has been unanimously approved by the Twitter board, a regulatory filing Tuesday shows.
twitter, elon musk, board approval 44 billion deal
179
2022-22-21
Tuesday, 21 June 2022 09:22 AM
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